Taxing ultra-wealthy Americans differently than the rest of us is not a controversial idea [MSNBC.com]
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Source: MSNBC.com
This Black Friday, Americans officially kick off what analysts expect to bea record-breaking holiday sales seasonmore than make up the differenceIf the House-passed version of the Build Back Better Act becomes law, it will cost $1.75 trillion dollars to overhaul America’s health care, childcare, education, and climate systems.It’s not humbug to point out that this disparity in disposable income is no accident — if anything, it’s a choice that lawmakers have made again and again over the decades.Policymakers and economists in America once agreed that aprogressive tax systemNor is the idea that it’s actually economically beneficial to leave poor and low-wealth people with a greater proportion of the money they earn. Generally speaking, those earners will spend most, if not all of it, locally: at grocery stores, retail shops, small businesses, for car repairs and doctor’s visits. This in turn hasa multiplier effectThat’s the taxation system the United States is supposed to be following.
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